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...But many turned sour, and Credit Suisse is in the middle of a fraught and expensive operation to reclaim the funds for its clients through insurance claims and lawsuits that are expected to continue for...
...chair of the Federal Deposit Insurance Corporation has warned....
...the company in as many years....
...Regulatory approvals for Metro’s financing deal include a detailed change of control assessment by the BoE’s Prudential Regulation Authority....
...Future of Asset Management North America Hosted by the Financial Times, in collaboration with Ignites and FundFire, Future of Asset Management North America is taking place on September 27-28 at etc.venues...
...“Winner” indicates that the organisation won an FT Innovative Lawyers North America award for 2023. The full list of award winners is available here....
...Among the big banks, Bank of America has been the worst performer....
...In a speech earlier this year, the Bank of England’s Prudential Regulation Authority, which oversees insurance companies, called for moderation “in the face of considerable temptation” to do deals....
...largest wealth manager outside North America....
...On the insurance side, none of the public insurers are close to the 10% limit, which means it would probably be a heavy lift for them to scale up to maintain eligiblity....
...Globally, insurance companies manage assets of about $44tn, according to the International Association of Insurance Supervisors....
...Higher rates wiped almost $7bn from the company’s “embedded value” last year. Embedded value is a key metric in insurance. It is also controversial....
...The combined wealth business will be the biggest player in south-east Asia as well as the Middle East, and one of the leading managers in Latin America, helped by Credit Suisse’s Brazilian division....
...The designation would hinge on FSOC’s determining that “material financial distress at the company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the company...
...Data compiled by NAIC shows CLO holdings of insurers have surged to more than $200bn, though that figure represents only about 3 per cent of the aggregate investment portfolio of the companies in the insurance...
...But big lenders such as JPMorgan and Bank of America can afford to shed some of the deposits they amassed during the coronavirus pandemic....
...The list of affected companies includes 45 banks with subsidiaries in Russia....
...“The EU is implementing Basel III in a way that these requirements apply to all banks — that provides an additional layer of safety in the prudential regulation of EU banks,” said Dombrovskis....
...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...Many of SVB UK’s clients have deposits under the £85,000 threshold covered by the financial insurance scheme. Additional reporting by Rob Smith and Owen Walker...
...The company, which provides life insurance in mainland China, has retreated 14 per cent since the start of the year....
...to a tally of plans at Goldman, JPMorgan, Citi, Morgan Stanley and Bank of America....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...HSBC has agreed to sell its Russian subsidiary to Expobank, while Citi has been in talks with several potential buyers, including Expobank and insurance company Reso-Garantia, the FT has reported....
...As part of the deal, Fairfax will invest $200mn in JAB’s consumer fund JCP V.The group, which also owns brands such as Pret A Manger, Krispy Kreme and Panera Bread, estimates that revenues and gross written...
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